Business/Consumer Services

SAIC gains after earnings beat

AishaAl-Muslim

Science Applications International Corp.
SAIC, +1.53%
reported a stronger third-quarter profit as it benefited from new U.S. government contracts.

The Reston, Va.-based company, which provides services to government agencies and information-technology support, reported its profit rose 2% from a year ago to $43 million, or 98 cents a share. Revenue increased 3% to $1.15 billion.

Analysts polled by Thomson Reuters had forecast earnings of 87 cents a share and $1.11 billion in revenue.

Shares rose 4.1% to $78.50 in after-hours trading.

Revenue for the quarter increased primarily from new contracts supporting NASA, the U.S. Army and the Environmental Protection Agency. The new contracts were partially offset by the completion of contracts and other decreases across its portfolio, including the loss of an IT integration contract supporting the Department of Homeland Security.

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